If you guys are not a registered Money Service Business you should stop ASAP.
What your doing sounds like a jailable offense.
See the local bitcoin guy who went to prison for selling bitcoin in Florida.
Generating $32,000 in 30 days selling a crypto-filled USB stick
31–40 of 110 posts
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#32nice, a classic "shovels during a gold rush" business edit: misread it, thought they were just selling empty setups w/ software
They're selling the currency. The delivery method just happens to be a USB drive.
I had originally skimmed the article and thought they were just selling empty wallets, and I thought, that is cool, an intro to crypto, I'll probably pay for that.
Then I realized they were selling crypto wrapped in wallets wrapped in a USB, and figured they would be out of business fairly quickly, and purchase will never arrive.
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#33So, this startup is headquartered in Miami, FL, and is selling randomly amounts of random cryptocurrencies to people who pay a defined amount of real US currency.
That is, it looks remarkably like a private, for-profit lottery. The operation of which, and even knowing assistance or promotion of which, is a third-degree felony under Florida state law. [0]
[0] http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Displ...
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#34I immediately questioned how they got around the fact that they're doing the work of money transmitters.
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#35I don't get it, how did they get these sales if theres nothing on their website
"Want a CBlock One? Enter your email - we'll notify you when we launch!"
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#36Why is everyone assuming he is running a lottery? Where did he say he put funds in the wallets? All he said was he generated wallets, encrypted them, and put them on a usb.
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#37Err.. aren't these guys going to run into regulatory problems? You need a license to sell this in the US. Not to mention selling crypto with credit cards is a great way to go broke unless you own the keys like Coinbase does. Also, why would you trust the keys they are sending you? Having someone else generate a wallet for you then sending it to you via a USB key sounds very very bad. I don't get this.
> You need a license to sell this in the US.
I think Dr. McCoy said it best: “There aren't going to be any damn permits. How can you get a permit to do a damn illegal thing!”
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#38If this website looks blank it might be because Privacy Badger is blocking contentful.com, whatever that is. I'm not sure what to make of that really, any ideas?
It's a CMS SaaS.
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#39The article's title sounds like a scam, but the story is quite awesome. Good work!
Re: Generating $32,000 in 30 days selling a crypto-filled USB stick
#40If you guys are not a registered Money Service Business you should stop ASAP. What your doing sounds like a jailable offense. See the local bitcoin guy who went to prison for selling bitcoin in Florida.
Being a registered MSB probably won't stop you for going to prison for running an illegal lottery.